740 Walnut Lane, SANTA BARBARA, CA 93111, SANTA BARBARA, 93111 - 5 bed, 3 bath
740 Walnut Lane
SANTA BARBARA, CA 93111
Property Price
SUMMARY
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 740 Walnut Lane Subject | $1,575,000* List Price | 5 | 3 | 2,046 | $733 | - |
A 631 San Ricardo Drive Sold | $1,550,000 | 5 | 3 | 2,302 | $673 | 0.2 mi |
B 5224 San Simeon Drive Sold | $1,583,500 | 5 | 3 | 2,393 | $662 | 0.8 mi |
C 155 San Federico Avenue Sold | $1,577,500 | 4 | 2 | 1,920 | $822 | 0.6 mi |
D 87 Santa Ana Avenue Sold | $1,190,000 | 4 | 3 | 1,837 | $648 | 0.7 mi |
E 5085 Amberly Place Sold | $1,125,000 | 3 | 2 | 1,250 | $900 | 0.3 mi |
F 112 Santa Ana Avenue Active | $1,675,000 List Price | 7 | 3 | 2,351 | $712 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property has received recent cosmetic 'lipstick' updates, including fresh interior paint and new carpeting, which improves its immediate appeal. However, the kitchen and bathrooms remain significantly outdated, featuring vintage cabinetry, laminate countertops, and 1960s-style wall tiling. While the home is well-maintained and functional, the core systems and primary rooms show their age (built in 1959) and have not undergone the comprehensive renovation required for a higher rating.
PROSSTRENGTHS & OPPORTUNITIES
- Dual Living Potential
The separate 2-bedroom, 1-bathroom upstairs unit with its own private entrance offers exceptional flexibility for rental income, guests, or multi-generational living.
- Prime Location
Conveniently situated near UCSB, Hollister Elementary, and the Magnolia Shopping Center, making it highly attractive for both families and student renters.
- Recent Interior Refreshes
The main level features fresh interior paint and new carpeting, providing a clean and move-in-ready environment for new owners.
CONSRISKS & DEFICIENCIES
- Vintage Infrastructure
Built in 1959, the property may have aging core systems such as plumbing or electrical that require inspection beyond the recent cosmetic updates.
- Modest Lot Size
A lot size of approximately 6,100 square feet may feel constrained for a 5-bedroom residence, limiting private outdoor space for a full household.
- Market Positioning
The recent price reduction from the original listing price suggests the property is still finding its footing in the current market landscape.
About 740 Walnut Lane
Discover a versatile 5-bedroom, 3-bathroom home offering flexible living options. The main level features a 3-bedroom, 2-bath layout with recent improvements, including fresh interior paint and new carpeting. Upstairs, a separate 2-bedroom, 1-bath space with its own private entrance provides excellent flexibility for extended family, guests, or potential rental use. The backyard offers a patio and mature fruit trees including avocado, apricot, plum, and apple, creating a welcoming outdoor setting. Conveniently located near UCSB, Hollister Elementary, the Magnolia Shopping Center, and the Coast Bike Trail, this property is well-suited for a primary residence with supplemental income potential or a smart addition to an investment portfolio.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1959
- Lot Size
- 6,098.4 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 86% |
| Baths | 3.0 | 2.0 | 51% |
| Square foot | 2,046 | 1,926 | 53% |
| Lot Size | 6,098.4 | 8,929.5 | 22% |
| Price | $1.57M | $1.66M | 43% |
| Price per sq ft | $770 | $878 | 32% |
| Built year | 1959 | 1965 | 11% |
| HOA | $0 | $0 | 50% |
| Days on market | 106 | 188 | 21% |
Pricing History
Listed for Sale
Jan 20, 2026
$1,575,000
$1,599,000
-2% Price Drop
Initial Listing
Price Change
Nov 21, 2025
$1,599,000
Initial Listing